Growers Need to be Proactive
As northern eyes turn to Australian growers, a clamour for old crop grain has emerged, driven by buyers seeking more cover.
Prices for last year's grain are trading at stronger prices than bids for new crop ahead of the harvest, due to domestic buyers requiring more cover before harvest, particularly in drier parts of south-eastern Australia.
Exporters with early shipping slots are also looking to secure grain, contributing to the higher prices for old crop.
In contrast, published bids for new crop are lagging, as buyers anticipate possible downward price pressure due to grower selling, expecting reasonable harvests in enough areas.
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Author's summary: Growers must be proactive as demand for old crop grain increases.
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